According to a recent report by Reports and Data, the global silicone coating market is expected to reach a size of USD 8.44 billion by 2028, with a revenue compound annual growth rate (CAGR) of 5.7% over the forecast period. The growth is driven by the expansion of manufacturing and end-use industries, as well as increasing construction activities in developing countries. The demand for silicone coatings in the construction industry is rising due to their water repellence and resistance to chemicals and extreme weather conditions. Silicones can also improve soundproofing or insulation and reinforce structural performance. The report highlights that Elkem Silicones is investing in research and development to manufacture high-performance coatings and water repellents, and has developed an extended range of hydrophobic silicone construction products for all building materials and atmospheric conditions.
The report also states that water-soaked minerals reduce the insulating action of masonry and affect energy efficiency by reducing the positive effects of porosity, causing heat loss due to evaporation. This is driving the demand for silicone coatings to prevent the formation of mildew and moss. In addition, the rising disposable income of consumers is expected to increase demand for silicone coatings in the consumer goods sector, where they are used in a wide range of products and applications, from airbags to technical textiles and leather goods.
Get a sample copy of the silicone coating market report: https://www.reportsanddata.com/download-free-sample/3397
The report highlights some key findings, including the acquisition of Polysil by Elkem ASA in February 2020, which is expected to strengthen Elkem's position in specialized silicone segments in China. The silicone water repellents segment is expected to account for a significant revenue share in the global silicone coating market over the forecast period, as they offer technical solutions for masonry protection of different materials. The Asia Pacific region is expected to account for the largest revenue share in the silicone coating market due to the growing demand for smart and advanced consumer electronics in developing countries, driven by rising disposable income. The major companies profiled in the market report include Evonik Industries AG, Wacker Chemie AG, Momentive Performance Materials Inc., Sika AG, and Elkem Silicones. The report segments the global silicone coating market based on product, application, and region.
Silicone Coating Market: Drive factors
The silicone coating market is expected to reach USD 8.44 billion by 2028 with a revenue CAGR of 5.7% during the forecast period. The market growth is mainly driven by the expansion of manufacturing and end-use industries, as well as increasing construction activities in developing countries. Water-soaked minerals reduce the insulating action of masonry, negatively affecting energy efficiency. This leads to a higher demand for silicone coatings to prevent the formation of mildew and moss. Moreover, silicone coatings provide greater water repellency and resistance to chemicals and extreme weather conditions, reinforcing structural performance and improving soundproofing or insulation. Manufacturers such as Elkem are investing in research development activities to produce high-performance coatings and water repellants. The increasing demand for consumer goods, such as airbags, technical textiles, and leather goods, further drives the market growth. The silicone water repellents segment is expected to account for significant revenue share, owing to the technical solutions offered for masonry protection of different materials. Additionally, the Asia Pacific region is expected to hold the largest revenue share due to the growing demand for smart and advanced consumer electronics in developing countries of the region.
Explore Trending Reports:
Polybutylene Adipate Terephthalate (PBAT) Market-https://www.reportsanddata.com/report-detail/polybutylene-adipate-terephthalate-pbat-market
Silver Iodide Market-https://www.reportsanddata.com/report-detail/silver-iodide-market
Special Effect Masterbatches Market-https://www.reportsanddata.com/report-detail/special-effect-masterbatches-market
Pigments Market-https://www.reportsanddata.com/report-detail/pigments-market
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/3397
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web:www.reportsanddata.com
Direct Line:+1-212-710-1370
E-mail:sales@reportsanddata.com
Blogs|Press Release|Industry News|Our competencies
Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @https://www.reportsanddata.com/report
Browse Latest Blogs: https://www.reportsanddata.com/blogs
Browse Latest Press Release: https://www.reportsanddata.com/press-release
